Toyota self driving car

China's Didi Chuxing said on Friday it had completed a fundraising round of over $500 million for its autonomous driving subsidiary that was led by SoftBank Group's Vision Fund 2.The ride-hailing giant said in a statement the round marked the first time Didi's autonomous driving business had brought in external funding since it became a standalone unit last year and was also the single largest fundraising round in China's self-driving sector.Didi said it would use the capital to invest further in the research and development of autonomous driving technology as well as testing, and accelerate the deployment of autonomous driving services.Didi has gained open-road testing licences in California, Beijing, Shanghai and Suzhou, it said. It first began to develop and test autonomous driving vehicles in 2016.The fundraising comes as SoftBank has been selling off other stakes to raise cash for stock buybacks aimed at supporting the price of its shares as its tech investments falter. Some of … [Read more...] about China’s Didi Chuxing raises over $500 million for autonomous driving unit

Volvo Cars India anticipates luxury carmakers to lead the pack once the electric mobility gains momentum here.The Indian arm of the Sweden manufacturer plans to drive in XC40 recharge here. Charles Frump, managing director, Volvo Car India, in TOI dialogues on Friday said, "We launched the XC40 recharge in the global market. We are seeing how it goes in Europe. We will evaluate the response globally and intend to drive it in here at some later stage."Frump, however, didn't speak on a tentative launch date. Volvo's first fully-electric SUV is positioned in a segment between the likes Hyundai Kona and Jaguar I-Pace. Volvo Cars plans to bring out five electric cars by 2025.The global-spec Volvo XC40 Recharge is capable of covering 400 kilometres on a single charge. An 11kW wallbox charger takes around eight hours. A 150kW fast charger, on the other hand, takes 40 minutes to 80% charge. Volvo India's biggest bet in 2020 will be the S60 sedan. "We have not made any big decisions on assembly … [Read more...] about Volvo evaluating markets, confirms to drive in XC40 recharge in India